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Tips for Smart Local ConsumersTue, 01 Oct 2013 17:12:51 +0000en-UShourly1https://wordpress.org/?v=4.9.4Five Tips for Preparing a Willhttp://local.dexknows.com/five-tips-for-preparing-a-will/?utm_source=rss&utm_medium=rss&utm_campaign=five-tips-for-preparing-a-will
Mon, 29 Oct 2012 15:38:44 +0000http://local.dexknows.com/?p=2198Writing a will isn’t necessarily something you want to consider, but it’s key to making sure your assets are divided as you want. It can also be done easily by following a few basic tips. Keep reading to learn more, and don’t forget to start your search for wills and estates attorneys at DexKnows.

If you don’t have a will

Each state has its own “intestate” laws, which are laws that deal with what happens if someone dies without a will. Usually, if you have a spouse and children, they will inherit your property. Next in line would be your parents, brothers and sisters, or nieces and nephews.

What a will should contain

Most wills contain four parts. These sections address:

How final bills will be paid

How estate taxes, inheritance taxes and the cost of settling your estate will be paid

Who will be executor of your will, or the person in charge of settling your estate, and who will be guardian of your children if you have children

Who will get the remainder of your estate and when

Tips for making a will

Keep in mind the following as you start preparing your will:

Make a plan — You want to be the one to decide who gets what, not the state. Make a plan and decide how you want to split your assets. Make sure to identify yourself by name and address, just in case there’s another person with the same name. You also want to declare in the will that you are “of sound mind” and acting under your own free will. Making a will is important no matter what your circumstance, whether you are starting a family, own a business, are in a same-sex relationship in a state that doesn’t honor it, or are considering divorce.

Write out a list — List what you own, including financial items such as life insurance policies, retirement accounts and what’s in your bank account. Think of whether there’s anything special such as heirlooms that you would want to go to a specific relative or friend. Also, identify any other valuables, antiques or collectibles you want to go to survivors. By writing everything out first, you are more likely to make sure not to miss anything as you write your will. If possible, include contact information of the people to whom you want to distribute your assets.

Name an executor — Think about whom you want to be in charge of carrying out your wishes. Make sure to pick someone you trust and talk to the person about what you want. Name an alternative in case something happens to the person you originally name or the person can’t do it for whatever reason. Remember to add to your will that you authorize your executor to pay your debts, funeral expenses and taxes. That way, all that is out of the way before the remaining estate is split. Check with state law to see what laws are in effect regarding who may be an executor.

Seek professional guidance — There may be laws with which you are unfamiliar regarding estates. An estate planning attorney can give you advice on how to avoid probate court, reduce estate taxes and protect your assets.

Type your will — Handwritten wills risk the problem of someone misreading them. It’s best to type your will, make a printout and protect the file. Keep the instructions as clear as possible. Remember to sign it and have someone witness the signing.

These tips will make sure your assets are split as you would like. If you are in need of legal advice, don’t forget DexKnows wills and estates attorneys.

Getting a divorce is one of the most serious and difficult decisions many people will make. You want to find a divorce attorney who will keep your interests in mind and is experienced at handling divorce cases.

What is your experience?

You want to find an attorney who is well-versed in your state’s divorce laws and has certification in family law. Ask what percentage of the law firm’s work deals with divorce cases and whether the attorneys deal extensively with child support and alimony, if that is your need.

How much have you worked in the local courts?

It’s not only a case of how many years the attorney has worked with divorce cases. You also want to know how long the attorney has worked in your state and specifically your county. An attorney who just moved to your state may not be as familiar with your state’s divorce laws. A divorce lawyer new to your county will not be as acquainted with the judges and what questions they will likely ask.

How do you approach divorce cases?

Ask prospective divorce attorneys what their strategy is when handling divorce cases. Do they suggest alternatives such as dissolution or mediation? Finding someone skilled at negotiating may help settle a divorce case without a prolonged court battle. On the other hand, if you are already heading for a battle on a specific issue, you want a lawyer who is not afraid to be firm in representing you in negotiations or in court.

How will you handle my case?

You want to find an attorney who will make your case as much of a priority as possible. Ask questions such as how many other cases is he or she handling, does the attorney have time for your case and whether that attorney will seeing the e case through or whether an associate will handle it. Also, find out who else from the law firm will be contacting you and involved in the case.

Also ask if you can contact the attorney directly and what your main form of communication will be, whether by phone or by email. You want to get all copies of legal documents and correspondence.

How much do you charge?

When searching for the right attorney, make sure you understand about the fee. An attorney may ask for a retainer or a certain amount of money based on how long divorce cases like yours usually take. You need to make sure you understand how the retainer works and whether there will be any other fees, such as for copies of documents, etc. You also want to ask whether you will be charged by anyone else, such as a paralegal working on your case. Also ask what the fee is for phone calls or emails to ask questions; such as will you be charged an hourly rate for such inquiries.

What do you think of my case?

When you get done explaining the situations behind your case, don’t be afraid to ask what the attorney thinks your chances are. That includes anything from how long the divorce lawyer thinks it will take, to how much you may pay in child support, or what your chances are of gaining custody.

One of the considerations to keep in mind when selecting an attorney is how the lawyer will be paid. Read through this information about the types of fees that attorneys may charge and don’t forget to use DexKnows’ attorney listings for your search.

Hourly fees

Lawyers with a set hourly rate charge you for each hour (or part of an hour) that the lawyer works on the case. This method, as the American Bar Association says on its blog, is the most common billing method used by lawyers.

There are trade-offs. The bar association states that more experienced attorneys charge more but may take less time to do the same work. Lawyers may also have different hourly fees for different services. For example, they could have one fee for doing legal research and another for appearing in court, the website FindLaw.com says. Ask the attorney for an estimate of what you may end up paying.

Flat fee

A flat fee, or fixed fee, is a set fee that an attorney charges. This is more commonly charged when lawyers offer a routine service like preparing a will or representing you in a simple bankruptcy case or uncontested divorce, according to the Denver Bar Association.

Contingency fees

A contingency fee, as described by the Florida Bar Association, is called for when you and a lawyer agree that the lawyer will only be paid if you win your case. This type of fee, used in cases such as personal injury, collections and auto damages, may be fixed at a specific percentage of the money received if the case is won. FindLaw says that while fee percentages vary, it’s common to charge one-third of the money recovered.

Losing the case means your attorney won’t be paid for any work done, but the American Bar Association states that you will likely still have to pay some fees, including court filing fees and any fees related to deposing witnesses.

Retainer fee

A retainer fee, FindLaw states, is like a down payment. The lawyer charges a set fee, perhaps the average fee charged in your kind of case, and deducts the cost of services from that fee. When the retainer falls below a certain level, the lawyer may ask for more money. Also, a retainer fee may be non-refundable, cautions FindLaw.

A retainer is also used to have a lawyer “on call” to handle your legal problems over a period of time. FindLaw suggests asking for clarification about what your retainer fee would cover.

In general, make sure you understand how your lawyer will be paid. Ask whether there’s a charge for an initial consultation and how much the attorney has charged for similar cases. The American Bar Association suggests asking not only what charges are included in the fee but what other charges may arise. The Florida Bar Association offers examples, including filing fees, sheriff fees and payments made to court reporters. Other questions include whether you can pay your bill in installments and when it will be due.

]]>What You Need to Know About Bankruptcyhttp://local.dexknows.com/what-you-need-to-know-about-bankruptcy/?utm_source=rss&utm_medium=rss&utm_campaign=what-you-need-to-know-about-bankruptcy
Fri, 03 Aug 2012 16:37:12 +0000http://besmartlocal.dexknows.com/?p=323 Between layoffs, foreclosures and other common occurrences today, the financial picture for many people is grim. As a result, more people are turning to bankruptcy to get out from under the debt and restart with a clean slate. If you are considering bankruptcy, familiarize yourself with the terms and basics before you find an attorney who specializes in these matters.

Chapter 7

This type of bankruptcy is generally used for those with little to no income and high debt. Under Chapter 7, you may lose assets such as your home or car.

Chapter 13

This type of bankruptcy helps those who are behind on home or car payments to restructure their debt in such a way that will help them catch up more quickly.

Requirements

You must prove that your expenses exceed your income and you must show how you got into dire financial straits.

Tips and Warnings

When researching bankruptcy, debt consolidation or other financial relief, consider your sources. If any solution seems too good to be true, it probably is. Consult an expert before making any decisions.

Don’t wait till the day your house is foreclosed on to file for bankruptcy. Give yourself several months to research your options and go through any necessary legal proceedings.

Bankruptcy does not affect all debts. Back taxes, student loans, child support and other financial obligations must still be paid after you’ve filed.

As with any legal matter, find an attorney who can clearly explain your options. He or she will be able to navigate the federal and state laws to help you decide whether bankruptcy is for you.

Bankruptcy will stay on your credit report for at least 10 years, taking your rating down. With work, you can build it back up over time, but it may be difficult.

Once your finances are back on track, put together a budget and savings plan. Experts recommend putting aside three to six months’ worth of living expenses for emergency purposes.

]]>Estate Planning Essentialshttp://local.dexknows.com/estate-planning-essentials/?utm_source=rss&utm_medium=rss&utm_campaign=estate-planning-essentials
Thu, 02 Aug 2012 13:15:29 +0000http://besmartlocal.dexknows.com/?p=317Although planning for the end of one’s life is not a pleasant task, it is an important one. And estate planning is not only for the wealthy; anyone with any assets should consider it. You can start your search for an estate attorney on DexKnows. These basic steps will serve as a guide when you consider how you wish your estate to be handled after your death.

Consider how you wish your assets to be distributed after your death.

Do you have family members with special circumstances who may depend on financial support from your estate? Are there charities you wish to help through your estate plan? Who do you want to care for your minor children in the event of your death?

Find an attorney who specializes in estate planning.

Even if your plans are seemingly simple, this is an important step. A professional will know how to write your plan in the way that legally achieves the goals you want. Remember that a will may not be the only piece of your estate plan; your attorney will be able to help you choose what other tools will be of use to you.

Ask your attorney about ways to maximize your assets after death.

Probate – that is, the administration of a person’s estate – can be lengthy and expensive. However, with careful planning, you may be able to avoid it. A trust may be useful in ensuring that your estate is distributed according to your wishes.

Discuss your plans with family members.

Sitting down to explain your wishes may help avoid hurt feelings and family arguments after your death.

Tips & Warnings

If you die intestate – that is, without a will – your estate will be distributed according to the laws in the state where you resided. This could mean your assets will not be handled the way you’d like.

Once you draft a will, be sure to review it every year to ensure that it still reflects your wishes in light of current tax laws or family situations.

Keep a record – and make sure family members know where to find it – of the location of wills, insurance policies and other important documents. It is also a good idea to tell family members about your funeral and burial preferences.

Did You Know?

Abraham Lincoln died without a will, the only U.S. president to do so.

Famous for his charitable deeds, baseball great Babe Ruth used his estate plan to benefit destitute children through the Babe Ruth Foundation.

When billionaire real estate investor Leona Helmsley died, she left millions to her Maltese, Trouble.

Look in the local Dex listings for an attorney who can set up a living will or trust for you and your family.

]]>Ten Tips for Hiring an Attorneyhttp://local.dexknows.com/ten-tips-for-hiring-an-attorney/?utm_source=rss&utm_medium=rss&utm_campaign=ten-tips-for-hiring-an-attorney
Wed, 01 Aug 2012 17:05:46 +0000http://besmartlocal.dexknows.com/?p=350When you’re in need, it is crucial to find the right lawyer to address your problem. Lawyers can explain your rights and help you to present your side of the story if you face criminal charges. An attorney can also help with civil issues such as filing for bankruptcy, preparing a will, or helping with consumer disputes.

Check out DexKnows for suggestions, and keep the following tips in mind.

Identify your need

Determine your exact need when searching for a lawyer. What do you hope to achieve? Legal Connection, a website powered by the free online legal index Findlaw, suggests identifying your goals. This may include seeking legal review of a contract, forming a business, finding out the consequences of a certain course of action, or evaluating whether someone has a legal claim against you. Identifying your goals early in the search will help you and your legal counsel focus on the important issues.

Ask around

Seek recommendations from friends, co-workers and employees. If you know any lawyers, ask them whether they have any suggestions of specific attorneys who handle your type of case. The Michigan Bar Association suggests asking accountants, doctors, financial advisors and others who regularly do business with lawyers.

Check certification

States’ bar associations can help you determine whether a lawyer is authorized to practice law in your state. Contact the attorney discipline board or similar governing entity to see whether an attorney has been subject to any disciplinary actions. A certified lawyer referral service may also help.

Determine the type

Lawyers may specialize in certain areas, including bankruptcy, workers’ compensation, criminal defense or personal injury. Search for an attorney with a specialization that fits your need.

Prepare questions

Write up a list of questions to ask prospective lawyers. Ask whether they have handled cases similar to yours. If so, what was the outcome of the case? How much time did it take to resolve the case? How often do conflicts covered by the lawyer end up in court, get settled through mediation or by an arbitrator? Also ask about the size of the firm and whether anyone else will be helping with your case.

Discuss costs

Lawyers’ fees may differ and certain tasks may be more expensive than others. Schedule a consultation to discuss your case and its potential cost. Expertlaw.com cautions potential clients to remember that a “retainer” fee is only an estimate of what a case may cost and is not a guarantee of the final cost. Ask about what the maximum fee may be and try to negotiate a price. In some non-criminal cases, such as personal injury ones, the lawyer’s fee may be a percentage of a settlement amount, commonly referred to as a contingency fee.

Consider alternatives

Many communities have low-cost legal services that are willing to help people in need. Employers may offer legal insurance or assistance as part of their benefits plan. Attorneys may also take a case pro bono if the issue fits with the lawyer’s particular interest or is a case of the common good.

Sharing a two-way street

You won’t be the only one asking questions. Attorneys may ask questions that you find difficult to answer or embarrassing. Legal Connection advises it’s important to be complete and truthful so that your lawyer can do his or her best to handle your case and provide the representation that you need.

Come prepared

Gather up any paperwork you need before consulting with an attorney. The attorney may ask specifics such as family income and expenses when determining likely child or spousal support. Make sure to have contact information for anyone involved in your case and documents, such as accident reports.

Get it in writing

The Michigan Bar Association advises clients to get a written retainer or fee agreement. Read any agreement carefully and ask all your questions before signing. Keep these tips in mind as you stroll through the Dex pages.